From CNBC: 2025-03-13 16:11:00

The Washington, D.C., area is experiencing a significant increase in housing inventory ahead of the spring market, with a 56% rise in active listings compared to a year ago. New listings are up 24%, contributing to the overall supply, while the median list price has decreased by 1.6% year over year.

Factors contributing to the increase in inventory include federal layoffs and funding cuts, as well as new construction listings for condominiums and townhomes. The D.C. metro area has seen a surge in new construction over the past few years, with a greater focus on condos. Median list prices in the area have declined, reflecting a shift towards smaller or lower-end homes on the market.

Nationally, active listings were up 28% last week compared to the same week in 2024, coinciding with a decrease in mortgage rates. The average rate for a 30-year fixed loan has dropped from 7.25% in mid-January to 6.82% currently. This trend may lead to similar shifts in other federally employed markets in the future, as households adapt to changing job opportunities.



Read more at CNBC: Washington DC housing market shows cracks amid federal layoffs